Priority Agreement. (a) (i) Any party to the Priority Agreement (other than a Finance Party) does not comply with the terms of the Priority Agreement in any respect which is materially prejudicial to the Lenders’ interests under the Finance Documents; or
Priority Agreement. The Owner must, at the expense of the Owner, do or cause to be done all actions reasonably necessary to grant priority to this agreement over all financial charges and encumbrances which may have been registered against the title to the Land save and except those specifically approved in writing by the Municipality or that are in favour of the Municipality.
Priority Agreement. The Chargeholder, being the holder of the Bank Charges, by signing the Form C General Instrument attached hereto as Part I, in consideration of the payment of Ten Dollars ($10.00) and other good and valuable consideration (the receipt and sufficiency of which is hereby acknowledged and agreed to by the Chargeholder) hereby consents to the granting of this Agreement including the Housing Agreement and Section 219 Covenant, and subject to section 9.20 above, hereby covenants that this Agreement shall bind the Chargeholder with respect to the Lands and shall rank in priority upon the Lands over the Bank Charges as if the Agreement had been registered prior to the Bank Charges and prior to the advance of any monies pursuant to the Bank Charges. The grant of priority is irrevocable, unqualified and without reservation or limitation.
Priority Agreement. The Bank’s Security will rank first in priority as a continuing security without limit. The Lender’s Security will rank second in priority as a continuing security without limit.
Priority Agreement. This Indenture is entered into with the benefit of, and subject to the terms of, the Priority Agreement and each Holder, by accepting a Note, shall be deemed to have agreed to, and accepted the terms and conditions of, the Priority Agreement. The rights and benefits of the Holders and the Trustee (on its own behalf and on behalf of the Holders) are subject to the terms of the Priority Agreement (including, without limitation, Clause 6 (Turnover) thereof). The Senior Creditors and the Hedging Banks (each as defined in the Priority Agreement), acting through their agents or trustees, are granted (or have as a matter of law) third party beneficiary rights in respect of this Section 12.01.
Priority Agreement. 2.1 The Bank’s Priority is £ [and the Lender’s Priority is £ ] (or any other Priority amount as agreed in writing between the Bank and the Lender) and, in addition, interest on that amount and expenses as secured by the Bank’s or the Lender’s Security.
2.2 The Bank’s Security will rank first in priority as a continuing security up to the Bank’s Priority.
2.3 [The Lender’s Security will rank second in priority as a continuing security without limit.] [The Lender’s Security will rank second in priority as a continuing security up to the Lender’s Priority.]
2.4 [The Bank’s Security will rank third in priority as a continuing security without limit.]
2.5 [If either the Bank or the Lender holds an effective fixed charge and the other a floating charge over the same asset or class of assets then the fixed charge will rank in priority to the floating charge without limit.]
2.6 The Bank and the Lender will hold on trust any net receipts from the enforcement of their Security or from an administrator or liquidator of the Owner in respect of their Security to give effect to the priorities under this deed.
2.7 The priorities above will not be affected by:
2.7.1 any fluctuations in the amounts secured by the Security, or any advances being made after the date of this deed;
2.7.2 the existence at any time of a credit balance on any account; or
2.7.3 the crystallisation of the Bank’s or Xxxxxx’s floating charge before the other’s.
Priority Agreement. 7.1 THE BANK OF NOVA SCOTIA, as the registered holder of a mortgage and assignment of rents registered against title to the Lands respectively under numbers CB316451 and CB316452 (collectively, the “Scotiabank Financial Charges”), for and in consideration of the sum of One Dollar ($1.00) paid by the District (the receipt whereof is hereby acknowledged), agrees with the District that upon filing of a Notice with the Land Title Office that the Lands are subject to this Agreement, pursuant to section 483(5) of the Local Government Act, this Agreement will be an encumbrance upon the Lands in priority to the Scotiabank Financial Charges in the same manner and to the same effect as if Notice had been filed before the Scotiabank Financial Charges.
Priority Agreement. If the Secured Party asks, the Grantor agrees to obtain an agreement acceptable to the Secured Party regulating priority between this security interest and any other Encumbrance over the Collateral.
Priority Agreement. The Administrative Agent acknowledges and agrees, on behalf of itself and any Secured Party, that, any provision of this Agreement to the contrary notwithstanding, until the First Priority Obligations Payment Date, the Pledgors shall not be required to act or refrain from acting pursuant to this Agreement or with respect to any Collateral on which the First Priority Representative has a Lien superior in priority to the Administrative Agent's Lien thereon in any manner that would result in a default under the terms and provisions of the First Priority Agreement.
Priority Agreement. The Security Agent’s Priority is £___ (or any other Priority amount as agreed in writing between any Secured party or the Security Agent and the Lender) and, in addition, interest on that amount and expenses as secured by the Security Agent’s Security. The Security Agent’s Security will rank first in priority as a continuing security up to the Security Agent’s Priority. The Lender’s Security will rank second in priority as a continuing security without limit.
